BBGI Corporate takeover - possible loss of entire value of shareholding?

NickAnt1961

There must be around 14 Million shares about £20 Million that did not get bought out by BCI because the offers were not accepted in time by the shareholders ,small fry to the 1 Billion paid. But a lot of money for small investors concerned.

Hoenir

itm2 said:

Remember the "Tell Sid" campaign from the 1980s, when ordinary punters were encouraged to pile into British Gas shares and join the great share-owning revolution? I don't remember there being much mention of needing to engage with the detail of Corporate Actions and other potential pitfalls of share ownership. IMHO it raises interesting questions about what level of expertise retail investors should be expected to have.

I'd say retail investors in the past were more diligent. Trading wasn't possible at the click of a button. Like placing a bet at the bookies or playing a fruit machine as it is today. Then there was the cost of buying and selling as well.  As a result investing was a far more considered and thought through activity. With many retail investors who had a real interest in the topic. Trading through properly run Investment Clubs. With investing more gamified and on the back of the longest bull market in history. There's a definate feeling of complancencey and air of what on earth could possibly go wrong. 

LHW99

You can end up with a lot of sales literature from HL through multiple channels (unless you make sure your preferences are set right). So it's possibly easy for small investors to get used to filing it all in the bin without actually checking through / reading all the announcements.

subsidencerip

Some good News

Had This from BBGI this morning:

looks like they are going to pay dividend  136.1p per share on 22 August.

and there will most likely be a final dividend when the company is fully liquidated.

Email from BBGI contained the following highlights:

Pre-liquidation dividend
The proceeds from the Asset Sale (less certain deductions representing liquidation costs and expenses and in order to maintain minimum share capital under Luxembourg law) will be distributed to BBGI Shareholders in the form of a cash dividend of 136.1 pence per BBGI Share (the “Pre-liquidation Dividend”).
Details of the Pre-liquidation Dividend are as follows:
Dividend per share: 136.1 pence
Dividend record date: 7 August 2025
Payment Date: 22 August 2025

Subject to the settlement of all outstanding liabilities of BBGI in liquidation, any residual proceeds (if any) from the Asset Sale will be distributed to BBGI Shareholders through a liquidation distribution payment.
There is no certainty that BBGI Shareholders will receive, in the aggregate under both the Pre-liquidation Dividend and in any liquidation distribution (if made), the same amount in respect of their BBGI Shares as they would have received had they sold their BBGI Shares to Bidco by accepting the Offer.
Important notices

masonic

No doubt that will be a relief to those who did nothing, although not the most tax efficient way of getting your money back. Hopefully the dividend will not bust anyone's basic rate tax threshold.

itm2

I have a couple of voting forms in my inbox at II this morning. I guess the sensible thing is to go with the Board recommendation:

masonic

If you want the assets to be liquidated and a distribution made to you, then vote for. If you want to remain locked into your unlisted shares vote against. Though I think it is quite unlikely these resolutions won't pass.